Financial Times Group CEO to step down

11/27/12 11:22 AM EST

The move was announced two months after Fairhead was overlooked for the top job at Pearson, which owns the Financial Times. Pearson Chief Executive Marjorie Scardino recently announced her intention to step down at the end of the year after 16 years as CEO. Fairhead, who has been with the company for 12 years, will leave in April 2013.

Scardino will be replaced by John Fallon, the chief executive of Pearson's International Education division. The Financial Times Group has yet to name a replacement for Fairhead.

These departures continue to fuel long-standing speculation that Pearson intends to sell the FT, perhaps to Bloomberg, Thomson Reuters or News Corp.